Nike driven lower by current resistance - Analysis - 14-08-2018

Nike's stock fell 0.72% in the last session, or 0.58 points, after the pivotal resistance of 81.16 held its ground, as the stock attempted to vent off overbought saturation in the RSI, while gathering momentum to help it breach that resistance, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, especially if the resistance of 81.16 was breached, targeting the next one at 84.65.